Difficult to help on this one with so little info. Where is the property? Where did you get any of your numbers? Not knowing either of these things the numbers seem incredibly optimistic.
This is in Warner Robins, Ga. I got the ARV running comps from within Propstream. Needs about 400/sq ft(about 1650 sq ft condo) of flooring, a new water heater and sliding glass backdoor most likely needs to be replaced
@Aaron K. This is in Warner Robins, Ga. I got the ARV running comps from within Propstream. Needs about 400/sq ft(about 1650 sq ft condo) of flooring, a new water heater and sliding glass backdoor most likely needs to be replaced
Did you include HOA in your calculations for the landlord. Also if I'm going to be dealing with $30k properties I'd hope to get more than a 7% cap. $10k seems high for a wholesale fee in this price point as well. That is something I'd expect to see in a low $300s property out here.
@Aaron K. Yeah HOA is $227/month. Was just thinking 10k was a lot as well. This is potentially first deal so don't want to mess it up. You thinking 6k for assignment? It would rent out around 970/month
@Aaron K. It's a 1650 sq ft 3-2 condo. Its about right for the area I'm pretty sure. There's a similar condo near it renting for 900 and it's a little smaller